Millicom International Cellular SA $TIGO Shares Sold by LB Partners LLC

Key Points

• LB Partners LLC reduced its stake in Millicom International Cellular SA by 22.8% during the 2nd quarter, now holding 402,000 shares.
• Millicom's stock is currently trading at $47.24 with a market capitalization of $8.13 billion and a PE ratio of 8.33.
• The company reported earnings of $0.51 per share for the last quarter, missing the consensus estimate by $0.03.

LB Partners LLC cut its position in Millicom International Cellular SA (NASDAQ:TIGO - Free Report) by 22.8% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 402,000 shares of the technology company's stock after selling 118,923 shares during the quarter. Millicom International Cellular accounts for about 9.6% of LB Partners LLC's portfolio, making the stock its 3rd largest holding. LB Partners LLC owned about 0.23% of Millicom International Cellular worth $15,063,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently made changes to their positions in TIGO. USA Financial Formulas acquired a new position in Millicom International Cellular during the 2nd quarter worth approximately $30,000. Caitong International Asset Management Co. Ltd acquired a new position in Millicom International Cellular during the 1st quarter worth approximately $84,000. Bond & Devick Financial Network Inc. acquired a new position in Millicom International Cellular during the 2nd quarter worth approximately $225,000. Zurcher Kantonalbank Zurich Cantonalbank increased its position in Millicom International Cellular by 65.6% during the 1st quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 6,284 shares of the technology company's stock worth $190,000 after purchasing an additional 2,489 shares in the last quarter. Finally, EWA LLC acquired a new position in Millicom International Cellular during the 1st quarter worth approximately $201,000.

Millicom International Cellular Stock Up 1.7%

Shares of NASDAQ TIGO opened at $47.24 on Monday. The firm has a market cap of $8.13 billion, a PE ratio of 8.33 and a beta of 1.11. Millicom International Cellular SA has a 12-month low of $23.61 and a 12-month high of $50.78. The company's fifty day simple moving average is $47.29 and its 200 day simple moving average is $39.91. The company has a quick ratio of 0.87, a current ratio of 0.89 and a debt-to-equity ratio of 1.59.

Millicom International Cellular (NASDAQ:TIGO - Get Free Report) last released its quarterly earnings data on Thursday, August 7th. The technology company reported $0.51 earnings per share for the quarter, missing the consensus estimate of $0.54 by ($0.03). Millicom International Cellular had a return on equity of 10.32% and a net margin of 16.97%.The business had revenue of $1.37 billion for the quarter, compared to analyst estimates of $1.40 billion. As a group, sell-side analysts forecast that Millicom International Cellular SA will post 1.91 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

TIGO has been the subject of several recent research reports. Weiss Ratings restated a "buy (b)" rating on shares of Millicom International Cellular in a research report on Wednesday, October 8th. JPMorgan Chase & Co. upped their price target on shares of Millicom International Cellular from $50.00 to $55.00 and gave the company an "overweight" rating in a research report on Thursday, August 14th. Wall Street Zen upgraded shares of Millicom International Cellular from a "buy" rating to a "strong-buy" rating in a research report on Saturday, October 11th. Scotiabank upped their price target on shares of Millicom International Cellular from $37.00 to $46.10 and gave the company a "sector perform" rating in a research report on Tuesday, August 19th. Finally, Zacks Research cut shares of Millicom International Cellular from a "strong-buy" rating to a "hold" rating in a research report on Wednesday, October 8th. One analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and five have issued a Hold rating to the stock. According to data from MarketBeat.com, Millicom International Cellular has an average rating of "Moderate Buy" and a consensus target price of $42.02.

About Millicom International Cellular

Millicom International Cellular SA provides cable and mobile services in Latin America. It offers mobile services, including mobile data and voice, and short message services; and mobile financial services, such as payments, money transfers, international remittances, savings, real-time loans, and micro-insurance.

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